first published week of: 05/01/2023
The Growing Importance of Location Intelligence
by Clement Lau
Location intelligence is transforming decision-making, with an increasing number and type of organizations modernizing operations with a geographic approach to problem-solving, planning, and prediction.
Location intelligence is the process of deriving meaningful insights from geospatial data to solve specific problems. This involves layering multiple data sets spatially and/or chronologically, for easy reference on a map, and its applications span industries, categories, and organizations. Location intelligence is facilitated by the use of geographical information system (GIS) tools which enable analysts to effectively and efficiently collect, stores, analyze, and visualize data.
Location intelligence experts can use a variety of spatial and business analytical tools to measure optimal locations for operating a business or providing a service. They begin with defining the business ecosystem which is influenced by many interconnected factors, including (but are not limited to): culture, lifestyle, labor, healthcare, cost of living, crime, economic climate, and education.
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